Stephens Increases Starbucks (NASDAQ:SBUX) Price Target to $118.00

Starbucks (NASDAQ:SBUX) had its price objective raised by Stephens from $115.00 to $118.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the coffee company’s stock. Stephens’ price objective suggests a potential upside of 1.97% from the stock’s current price.

A number of other equities research analysts have also recently commented on SBUX. The Goldman Sachs Group began coverage on Starbucks in a research note on Tuesday, January 19th. They issued a “buy” rating and a $115.00 target price on the stock. Jefferies Financial Group upped their price target on Starbucks from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. MKM Partners upped their price target on Starbucks from $105.00 to $117.00 in a report on Thursday, April 22nd. Wells Fargo & Company upped their price target on Starbucks from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Credit Suisse Group increased their target price on Starbucks from $116.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $120.80.

SBUX opened at $115.72 on Tuesday. Starbucks has a 52-week low of $70.65 and a 52-week high of $118.98. The stock has a market capitalization of $136.24 billion, a PE ratio of 150.29, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The stock’s 50 day moving average price is $112.30 and its 200-day moving average price is $103.39.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.75 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks will post 2.81 earnings per share for the current fiscal year.

In related news, EVP Rachel A. Gonzalez sold 82,894 shares of the stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the completion of the sale, the executive vice president now owns 78,905 shares in the company, valued at $8,640,097.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin R. Johnson sold 170,000 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $111.07, for a total value of $18,881,900.00. Following the sale, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The disclosure for this sale can be found here. Insiders have sold 406,184 shares of company stock valued at $44,685,798 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Lenox Wealth Advisors LLC lifted its stake in shares of Starbucks by 20.2% in the 1st quarter. Lenox Wealth Advisors LLC now owns 529 shares of the coffee company’s stock valued at $58,000 after purchasing an additional 89 shares during the last quarter. JNB Advisors LLC lifted its stake in shares of Starbucks by 1.9% in the 4th quarter. JNB Advisors LLC now owns 5,093 shares of the coffee company’s stock valued at $545,000 after purchasing an additional 96 shares during the last quarter. Exeter Financial LLC lifted its stake in shares of Starbucks by 0.6% in the 1st quarter. Exeter Financial LLC now owns 15,622 shares of the coffee company’s stock valued at $1,707,000 after purchasing an additional 97 shares during the last quarter. Resource Management LLC lifted its stake in shares of Starbucks by 1.8% in the 4th quarter. Resource Management LLC now owns 5,660 shares of the coffee company’s stock valued at $605,000 after purchasing an additional 98 shares during the last quarter. Finally, GPM Growth Investors Inc. lifted its stake in shares of Starbucks by 0.5% in the 1st quarter. GPM Growth Investors Inc. now owns 21,316 shares of the coffee company’s stock valued at $2,329,000 after purchasing an additional 99 shares during the last quarter. 67.27% of the stock is owned by institutional investors and hedge funds.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: Stock Selection – What is cash flow?

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.